The Ministry of Oil Signs a Memorandum of Understanding with Aurion Company

The Ministry of Oil is Keeping on its Plans to Invest The Associated Gas With The Extraction Operations Perfectly To Achieve The Demanded Targets And Stop the Gas Flaring Completely Until 2021.

Date Added
Tue 23rd Jan

The ministry of oil signed a memorandum of understanding with Aurion American Company to invest the gas of Nahr Bin-Omar oil field in Basrah governorate...

By the presence of Mr. Douglas Silliman the American Ambassador to Baghdad, In addition to other officials from the ministry and the cabinet.

Mr. Jabbar Ali Hussein Al-Luiebi the minister of oil confirmed that the ministry of oil is keeping on its plans to invest the associated gas with the extraction operations perfectly to achieve the demanded targets and stop the gas flaring completely until 2021.

Mr. Al-Luiebi said that the signature of the memorandum is considered as a big step to invest big quantities of gas from this field estimated with 100 to 150 MSCF. He said also that the invested gas quantities will achieve high outcome to the country and the federal budget. In addition to stopping the waist of the national wealth which lasted for decades. The development operation will provide also lots of gas quantities to be used in the national power stations, in addition to the other uses in the petrochemicals and fertilizers. As well as the quantities of gas investment products.

Mr. Ryan Manicon the representative of Aurion Company said that this investment opportunity is the first of its kind for the work of the company in Iraq. He said also “we will work by cooperation with the ministry of oil to invest the associated gas with the extraction operations according to the contract to stop the flaring”. He said also that the signature of the contract is considered as a big step to achieve economic benefits for Iraq.